• Journal of Technology Innovation
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• v.20 no.1
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• pp.1-15
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• 2012

Republic of Korea has been applying offset to defense acquisition program for some benefits such as modernization of defense industry and enhancement of R&D capabilities since 1983. But in point of implementation, there is the possibility of delay of offset agreements based on the value of proposed technologies. As it often happens that the delay of offset agreement negatively affects the time schedule of main defense deal, it is necessary to prepare for this issue. The purpose of this study is to extract some factors affecting the duration of offset agreement by statistical analysis. Reviewing existing papers and contract process, nationality of enterprise, the number of project participants, properties of project, the number of technologies in the first proposal, level of domestic defense technology in each weapons system, the amount of main contract were used as independent variable and duration of agreement as dependent variable. To hypothesis testing, correlation and multiple regression analysis were conducted using the previous 25 contract cases. As a result of correlation analysis, the amount of main contract, the number of technologies in the first proposal and properties of project have positive relationships with dependent variable. In multiple regression, the amount of main contract and the number of project participants have significant effect on the duration of offset agreement.

• Korean Journal of Construction Engineering and Management
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• v.5 no.6 s.22
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• pp.138-145
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• 2004

The construction duration for any building or facilities such as high school building influence the quality of the building as well as the total cost for them. Since there are no guidelines to estimate construction duration correctly, an employer(or owner) estimate it by their own experience or intuition. Therefore some conflicts related to construction duration happen between contract parties during construction. The purpose of this study is to suggest a predictive model which helps decision makers calculate exact net working days for high school building construction at the early stage of the construction project. To measure net working days for high school construction, 15 data were collected from actual spot in Incheon region. Multiple linear regression analysis was conducted to obtain the model which calculate construction duration for the substructure, the superstructure and the finishing works. total construction duration could be obtained by adding net working days to non working days which would be based on the meteorological statistics for Incheon region since 1974 to 2003.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.42 no.6
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• pp.869-877
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• 2022

This study aims to analyze the factors affecting the re-subscription period upon initial termination of the reverse mortgage subscription. The study utilized the Korea Housing Finance Corporation's database to extract the information regarding re-subscribers of the reverse mortgage from July 2007 to June 2021. The ordered logit model was employed and found that a set of user (subscriber) characteristics are influential towards the re-subscription period. Among the individual characteristics, changes in age group, marital status from married to single-living, maintaining single-living, and the initial subscription period were found statistically significant, highlighting that the increase in the initial subscription period decreased the re-subscription period. Among the housing (home equity) characteristics, changes in housing price and ownership type (single and partial ownership) were statistically significant, indicating that the change in ownership type decreases the re-subscription period. Lastly, the variables related to loan terms were found significant, revealing that changes in payout method and schedule were both increasing factors of the re-subscription period. Based on the findings, necessary policy implications can be considered to secure the returning subscribers of the reverse mortgage effectively.

• Journal of Korea Port Economic Association
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• v.28 no.1
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• pp.83-104
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• 2012

The main purpose of tramp ships in shipping markets is to produce operation profits by minimizing the running days in a contract of the voyage charterparty. It is an especially difficult task for the owners to earn operation profits in the present recessional shipping market. Tramp ships are moving towards globalization in order to look for a variety of cargoes, which are distinguished from the liners operating regularly as per the fixed time schedule. Tramp shipping, therefore, requires special attention every voyage to secure operation efficiency which comes from minimized sea and laytime in port. The laytime is allowed by owners but if the charterers use more laytime than that which is incorporated in the charterparty, then a compensation known as 'demurrage' must be paid to owners. Conversely if the time is shorter this is called 'despatch' and in this case the owners are paid. As the laytime issue in the voyage charter is somewhat delicate, it often causes much disputes between charterers and owners during the cargo handling in ports. This study focuses on the charterers' right and duty on the laytime which is usually applied for the benefit of the charterers. Reference is also made to English law cases to reinforce this study and the conclusion will make relevant suggestions for further research.

• Korea Real Estate Review
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• v.27 no.3
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• pp.103-118
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• 2017

Under the ownership pre-sale system in the South Korean apartment market, developers can sell apartment ownerships as soon as they start to construct an apartment complex. In the South Korean apartment market, people call this kind of ownership "Bun-yang right." There is a time difference between ownership sale and apartment completion under the ownership pre-sale system. The pre-completion apartment ownerships can be resold to third parties until the apartment complexes are completed, which is called "Geon-mae" of the Bun-yang right. Using survival analysis, this research analyzed the elapsed time between ownership purchase and resale to a third party using 48,316 apartment units nationwide in the 192 complexes supplied from 2000 to 2016. Specifically, this study analyzed the influence of the real estate policy, contract term, location, apartment complex, and unit characteristics on the elapsed time between ownership purchase and resale to a third party. The empirical analysis revealed that the real estate policy and contract term characteristics have a significant effect on the elapsed time between ownership purchase and resale to a third party. Also, this study confirmed that the product characteristics, such as the location and apartment complex and unit characteristics, have an influence on the elapsed time between ownership purchase and resale to a third party.

• Environmental and Resource Economics Review
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• v.18 no.1
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• pp.139-158
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• 2009

With the sample of Middle East crude oil imported to South Korea, this study empirically analyzes the effectiveness of the risk management strategies using derivatives such as futures and options. Assuming the hedging period of one to twelve months, it considers a spot purchasing strategy, 1 : 1 futures hedge strategy, OLS-based minimum-variance futures hedge strategy, buying call option strategy, and collar transaction strategy. According to the ex-ante result, using the derivatives of futures or options makes lower the procurement costs when the crude oil prices is increasing. With the hedging period less than or equal to six months, the hedging strategy using futures turns out to be superior in terms of procurement cost reduction and hedging effectiveness improvement. In contrast, the hedging strategies of buying call option and collar transaction would generate better results when the hedging program last over six months.

• Nuclear industry
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• v.17 no.1 s.167
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• pp.11-16
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• 1997

울진 5$\cdot$6호기의 주기기 공급 및 종합 설계 용역에 대한 계약이 96년 11월 22일 한국전력공사와 한국중공업(주) 및 한국전력기술(주)간에 각각 체결되어 사업추진을 위한 골격이 마련되었다. 울진 3$\cdot$4호기 인접 부지에 1,000MW급 가압 경수로(PWR)로 건설될 울진 5$\cdot$6호기는 97년 10월에 착공에 들어가 5호기는 2003년 6월에, 6호기는 2004년 6월에 각각 준공될 예정인데, 총 6년 9개월의 건설 기간에 총공사비 3조3천억원이 소요될 전망이다. 국내 기술진 및 연인원 1,000만명의 건설 인원을 동원하여 건설하게 될 울진 5$\cdot$6호기에 대한 사업 특성, 추진 경위, 사업 추진 체계, 설계 내용 등을 살펴본다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.305-310
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• 2001

The purpose of this study is to calculate delay damages for contractors. The study has been performed by investigation of delay cost occurrence status and the analysis of subway construction cases. The results of this study are as follows: 1. Delay cost( 1day) equivalent to $0.005\%$ of total construction cost by analysis case studies. 2. Including bank interest, dealy cost is analysed as the following; $1.1\~9.2\%$ of total construction cost in part extension period, $3.3\~11.0\%$ of total construction cost in total extension period. 3. In comparison between liquidated damages and delay cost, liquidated damages account for average 20.1 times of delay costs. 4. Acceleration cost will be calculate on the basis of delay cost calculation method. In the result of this method, acceleration cost is equal to delay cost at least or must be large than delay cost

• Korean Journal of Construction Engineering and Management
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• v.20 no.3
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• pp.3-11
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• 2019

The construction of a facility is an act whereby infrastructure such as roads and railways and other facilities such as housing and office spaces are constructed, and due to the characteristics of the relevant industry where such construction is carried out in a custom order method, it requires a long period of time mostly. While the construction is carried out over a long period of time, fluctuations in the price of raw materials required for the construction occur. Therefore, the cost of the construction also fluctuates inevitably. The fluctuation of the construction cost meshes closely with the profit of a constructor and the efficiency of government spending. Therefore, it is necessary to maintain the construction cost at a reasonable level by adjusting the construction cost rationally in order to secure the required construction quality and spend the budget efficiently. The buffer system for solving such problem is the contract amount adjustment system by fluctuations in prices (Escalation/De-Escalation). In this study, the method combining the escalation method based on the item adjustment method was suggested for an efficient contract amount adjustment method. In addition, it is proposed that there be an investigation and codification of matters not applied to government acts and regulations on contracts related to the adjustment of fluctuations in prices legally.

• Journal of Distribution Research
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• v.16 no.3
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• pp.33-75
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• 2011

The ownership structure of a franchise system is determined by the franchisor's strategic choice. A close look at the extant theories and perspectives in economics and management such as resource scarcity theory, agency theory, transaction cost analysis, and mixed ownership theory reveals that firms choose their ownership structure for the sake of economic efficiency, profit potentials, the chance of survival, and other strategic concerns. The present study, on the basis of strategic choice perspective, reviews the divergent theories of a franchise system's ownership structure and its determinants, thus providing a theoretical framework for comparing the contradictory arguments along the several critical dimensions. We also developed and tested the conflicting hypotheses regarding key determinants of ownership structure including firm's age, size, transaction-specific investments, uncertainty, and risk-sharing propensity. Using a FDD (Franchise Disclosure Document) data set of 543 Korean franchisors, we found that the years in business, the total number of employees, days of training, the inverse of the years of franchising, and the requirement of royalty payment have positive relationships with the proportion of company-owned outlets to total number of outlets. On the other hand, the proportion of company-owned outlets was found to have negative relationships with the total number of outlets and the extent of geographic dispersion of outlets, but to have no significant relationships with the initial investment required and the inverse of contract length. Based on the findings, we provide several theoretical and managerial implications for studying ownership structure of franchise systems.